BRAEVEST
ActiveSummary
BRAEVEST has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €25,892 and a net result of €14,377. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 31% of 9743 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+87
Solvency58▲+18
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 0.94 in 2024; short-term debt: 67.3% and cash: 80.7% of total assets), and 67.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
32.7%
Return on assets
18.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-05-2026, 86 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
86 d early
2024
92 d early
2023
91 d early
2022
104 d early
2021
94 d early
2020
88 d early
2019
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 89 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€25,892▲ 125%
2024 · €11,516
Total assets
€79,083▲ 1.7%
2024 · €77,767
Net result
€14,377
2024 · -€8,914
Working capital
€10,666
2024 · -€4,121
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€24,816▲ 36.6%€24,010▼ 3.2%€9,854▼ 59.0%-€3,703€9,269
Net result€24,483within the sector's middle half▲ 40.6%€23,603within the sector's middle half▼ 3.6%€4,725within the sector's middle half▼ 80.0%-€8,914below the sector's middle half€14,377within the sector's middle half
Equity€67,102within the sector's middle half▲ 57.4%€90,705within the sector's middle half▲ 35.2%€95,430within the sector's middle half▲ 5.2%€11,516below the sector's middle half▼ 87.9%€25,892within the sector's middle half▲ 125%
Total assets€92,776within the sector's middle half▼ 4.9%€100,287within the sector's middle half▲ 8.1%€107,448within the sector's middle half▲ 7.1%€77,767within the sector's middle half▼ 27.6%€79,083within the sector's middle half▲ 1.7%
Debt€25,673▼ 53.3%€9,582▼ 62.7%€12,018▲ 25.4%€66,252▲ 451%€53,190▼ 19.7%
Working capital€49,025within the sector's middle half▲ 149%€73,613within the sector's middle half▲ 50.2%€79,065within the sector's middle half▲ 7.4%-€4,121below the sector's middle half€10,666within the sector's middle half
Solvency72.3%within the sector's middle half▲ 28.7pp90.4%above the sector's middle half▲ 18.1pp88.8%above the sector's middle half▼ 1.6pp14.8%below the sector's middle half▼ 74.0pp32.7%within the sector's middle half▲ 17.9pp
Current ratio3.15within the sector's middle half▲ 1.798.68above the sector's middle half▲ 5.537.58above the sector's middle half▼ 1.100.94below the sector's middle half▼ 6.641.20within the sector's middle half▲ 0.26
Return on assets (ROA)26.4%above the sector's middle half▲ 8.5pp23.5%above the sector's middle half▼ 2.9pp4.4%within the sector's middle half▼ 19.1pp-11.5%below the sector's middle half▼ 15.9pp18.2%within the sector's middle half▲ 29.6pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9,269 after a loss of €3,703 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €79,083
Fixed assets
€15,226 ▼ 2.6%
Current assets
€63,856 ▲ 2.8%
Equity and liabilities €79,083
Equity
€25,892 ▲ 125%
Debt
€53,190 ▼ 19.7%
Debt's share of the balance-sheet total falls from 85.2% to 67.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,680▲
2024 · -€2,975
Cash flow
€14,787▲
2024 · -€8,187
Debt to equity
2.05▼
2024 · 5.75
ROE
55.5%▲
2024 · -77.4%
Interest coverage
123.70▲
2024 · -36.89
Debt ≤ 1 year
€53,190▼
2024 · €66,252
Income taxes
-€4,974▼
2024 · €5,342
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,371 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,906 | €1,082 | €728 | €728 | €410 | ▼ 43.6% |
| Other operating charges640/8 | €1,902 | €2,033 | €2,116 | €2,129 | €2,277 | ▲ 7.0% |
| Gross operating margin9900 | €28,623 | €27,125 | €12,698 | -€846 | €11,957 | ▲ 1,513% |
| Operating profit (loss)9901 | €24,816 | €24,010 | €9,854 | -€3,703 | €9,269 | ▲ 350% |
| Financial income75/76B | - | - | €121 | €211 | €211 | ▲ 0.4% |
| Recurring financial income75 | - | - | €121 | €211 | €211 | ▲ 0.4% |
| Financial charges65/66B | €148 | €72 | €72 | €81 | €78 | ▼ 3.0% |
| Recurring financial charges65 | €148 | €72 | €72 | €81 | €78 | ▼ 3.0% |
| Profit (loss) for the period before taxes9903 | €24,667 | €23,938 | €9,903 | -€3,573 | €9,402 | ▲ 363% |
| Income taxes67/77 | €185 | €335 | €5,178 | €5,342 | -€4,974 | ▼ 193% |
| Profit (loss) for the period9904 | €24,483 | €23,603 | €4,725 | -€8,914 | €14,377 | ▲ 261% |
| Profit (loss) for the period to be appropriated9905 | €24,483 | €23,603 | €4,725 | -€8,914 | €14,377 | ▲ 261% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €92,776 | €100,287 | €107,448 | €77,767 | €79,083 | ▲ 1.7% |
| Fixed assets21/28 | €20,989 | €17,092 | €16,365 | €15,637 | €15,226 | ▼ 2.6% |
| Tangible fixed assets22/27 | €20,976 | €17,079 | €16,352 | €15,624 | €15,213 | ▼ 2.6% |
| Land and buildings22 | €18,027 | €15,213 | €15,213 | €15,213 | €15,213 | = |
| Furniture and vehicles24 | €2,948 | €1,866 | €1,138 | €410 | - | - |
| Financial fixed assets28 | €13 | €13 | €13 | €13 | €13 | = |
| Current assets29/58 | €71,787 | €83,195 | €91,083 | €62,130 | €63,856 | ▲ 2.8% |
| Amounts receivable within one year40/41 | €4,728 | €4,320 | - | - | - | - |
| Trade receivables40 | €4,728 | €4,320 | - | - | - | - |
| Cash at bank and in hand54/58 | €67,059 | €78,875 | €91,083 | €62,130 | €63,856 | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €92,776 | €100,287 | €107,448 | €77,767 | €79,083 | ▲ 1.7% |
| Equity10/15 | €67,102 | €90,705 | €95,430 | €11,516 | €25,892 | ▲ 125% |
| Contributions10/11 | €106,860 | €106,860 | €106,860 | €31,860 | €31,860 | = |
| Profit (loss) carried forward14 | -€39,758 | -€16,155 | -€11,430 | -€20,344 | -€5,968 | ▲ 70.7% |
| Amounts payable17/49 | €25,673 | €9,582 | €12,018 | €66,252 | €53,190 | ▼ 19.7% |
| Amounts payable within one year42/48 | €22,762 | €9,582 | €12,018 | €66,252 | €53,190 | ▼ 19.7% |
| Trade debts44 | €1,591 | €1,599 | €3,142 | €3,002 | €3,466 | ▲ 15.4% |
| Suppliers440/4 | €1,591 | €1,599 | €3,142 | €3,002 | €3,466 | ▲ 15.4% |
| Taxes, remuneration and social security45 | €1,323 | €854 | €4,308 | €5,922 | €21 | ▼ 99.6% |
| Taxes450/3 | €1,323 | €854 | €4,308 | €5,922 | €21 | ▼ 99.6% |
| Other amounts payable47/48 | €19,848 | €7,128 | €4,567 | €57,328 | €49,704 | ▼ 13.3% |
| Accrued charges and deferred income492/3 | €2,911 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,483 | €23,603 | €4,725 | -€8,914 | €14,377 | ▲ 261% |
| + Depreciation and write-downs630 | €1,906 | €1,082 | €728 | €728 | €410 | ▼ 43.6% |
| Operating cash flow (approximation) | €26,389 | €24,685 | €5,452 | -€8,187 | €14,787 | ▲ 281% |
| Investment in fixed assets (approximation) | - | €2,814 | €0 | €0 | €0 | - |
| Change in cash | - | €11,816 | €12,208 | -€28,953 | €1,726 | ▲ 106% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-09
State Gazette act
Resignation: PILLEN Philippe (director)Appointments: BRAET Luc (non-statutory director) and BRAET Henri (non-statutory director) · Name change · Registered-office move7 facts ▸
State Gazette act
Resignation: PILLEN Philippe (director)
Appointments: BRAET Luc (non-statutory director) and BRAET Henri (non-statutory director) · Name change · Registered-office move7 facts ▸
- General meeting, 22-09-2026
- Name change, BRAEVEST
- Director resignation, PILLEN Philippe (director)
- Director appointment, BRAET Luc (non-statutory director)
- Director appointment, BRAET Henri (non-statutory director)
- Board meeting, bestuursorgaan
- Registered-office move, 8510 Kortrijk (Marke), Van Belleghemdreef 5
06-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €14,377
Net result €14,377 after one loss-making year.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 8.68
Current ratio from 3.15 to 8.68; short-term debt falls from €22,762 to €9,582.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €24,483 ▲40.6%
Operating result €24,816, net result €24,483, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.15
Current ratio from 1.36 to 3.15; short-term debt falls from €54,969 to €22,762.
04-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Back to profitnet €6,364
Net result €6,364 after one loss-making year.
18-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
01-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
BRAET Henri
CurrentNon-statutory director · since 30-09-2026
BRAET Luc
CurrentNon-statutory director · since 30-09-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 1990
Ground area
1,103 m²
Building footprint
175 m²
Volume, LiDAR
1,312 m³
2 parcels, Flanders · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
INTERIEURARCHITEKT
since 19902.047.940.709
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026A0144/00M005 | Flanders | 839 m² | 1 · 100 m² | 11.8 m · 2 fl. |
| 34026A0144/00A006 | Flanders | 264 m² | 1 · 75 m² | 11.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BRAET Henri |
|
| BRAET Luc |
|
| PILLEN Philippe |
|
Articles of association
Board rule
Power of attorney
One provision in the deed
Other provisions
Van den Bulcke Ivan
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 3,922 companies in this sector we hold annual accounts for 1,296. 1,011 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded26-03-1990
Fiscal year end31-12
Activities, NACEBEL 2025
71112Activities of interior architects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440192334
Also
9925:BE0440192334
Registered
18-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.